FairFX Info update (post 17)

[2Tiggies]

Here comes a stream of questions!

I am looking at getting a FairFX card. Can anyone give feedback on using this in the US and also online?
Is it better than the Thomas Cook/Co-Op prepaid travel cash cards and if so what are the pros?

Do you also take Travellers Cheques?

Where is the best place/places to get foreing exchange at good rates (I am looking for secure options, i.e. not Crown Currency and the like).

The US has a different system with signing for a transaction and using chip and pin for debit cards. It is treated as a different transaction and posted to your account differently, depending on how you do it and you often have the option. Does this apply to foreign cards as well?

Sorry about all the questions. No doubt there will be more to follow.

 

[wickesy]

We've used our FairFx cards for our past three US trips (and just recently for paying off our cruise balance) and never had any problems. I think I'm right in saying that you can only top up the Thomas Cook card in a Thomas Cook shop whereas with FairFx you can top it up online as well.

We don't use traveller's cheques any more but we do have other credit cards and a small amount of currency as back ups just in case the worst was to happen and we lost the Fairfx card.

FairFx is normally one of the best places to get a good exchange place and I believe the Citibank US account is pretty competitive as well.

I've always signed when using credit cards in the US and it just goes through as a normal transaction.

 

[scottishgirl87]

This guide might be able to help you somewhat

I can't really comment much on FairFX, it wasn't/isn't something I'm overly keen on but boyfriend has just got his for our trip in May and so far so good. Card arrived in a few days, and the pin a few days after that, which typical guy STILL hasn't checked at the cash machine, grrr!

Oh an for your travel money also check out this, I generally find the Cheque Centre's tend to be the best on the high street but they haven't been alot of the times I've checked lately, infact Tesco has been coming up highest alot lately

 

[Natasha&Matt]

I have used fairfx for euro and dollars great rates easy to use

 

[jtlover]

We have used Fx card for the last 2 trips and it is great. Usually I am paid when we are on holiday so I can transfer some more money onto it whilst in Florida. It is a really great card to have.

We do not take travellers cheques anymore. We just take the fx card and some cash. As we stay on site we find this works for us as we get most items added to our room and then pay our balance at the end with the FX card.

I have also used the FX card whilst shopping and never had a problem. I love the fact that I know what I have spent and what I have left online. I dont have any nasty surprises on my return from holiday that you get if you use your bank account, and your bank charges you loads for using your card abroad.

 

[2Tiggies]

Thanks everyone. This is the information I was looking for.

I will still take some traveller cheques - also have a few hundred $$$ from last trip. I have always used them as I like to have my holiday paid up when I go and not come back and instantly stress about paying off my spending sprees on the flight home

Thanks for the links ScottishGirl. Why didn't you want the FX? Just curious.

SO there are really no hidden costs? Reason for asking is if bounceback is on while we are there and they have a good offer I plan on taking it in the US - but don't want to incur the forex fees on my UK credit card. It is really a maybe, but I would hate to lose out just because I didn't have the best appropriate means of payment with me.

I have also found cheque centre to be the best high street exchange rate - one near to where I work so quite convenient. Never even thought about looking at Tesco. Will want to have some cash on me for tips and "bits" too so will be getting some of that as well.

 

[scottishgirl87]

Thanks for the links ScottishGirl. Why didn't you want the FX? Just curious.

Only thing I don't like is if the people behind FairFX go bust, there's not really alot of protection for your money!

I have a Nationwide FlexAccount debit card myself, which I only use for spending abroad. It used to be fee-free but I think it's 1% they charge now, but according to MSE it's still the best debit card to have Would have preferred to get boyfriend this but they've also put new stipulations in place largely due to people doing what I did and only signed up for holiday spends, lol.

 

[2Tiggies]

Hmm, see now that was one of the "disadvantages" that is good to know about. I am sure they are pretty safe. Maybe just THomas Cook would be easier then. Basically, I am happy to take cash and TCs as before but specifically wanted a fee free card in the event that I book something while I am over there so would only load the deposit amount, so not more than $200 would be on when I left.

I guess having said that, it doesn't really make too much difference. I just need one that you can make online payments with in US $$$. Also nice for paying for TOuring Plan/Passporter memberships. I don't know if you can use the Thomas Cook one online.

 

[wickesy]

Basically, I am happy to take cash and TCs as before but specifically wanted a fee free card in the event that I book something while I am over there so would only load the deposit amount, so not more than $200 would be on when I left.

I guess having said that, it doesn't really make too much difference. I just need one that you can make online payments with in US $$$. Also nice for paying for TOuring Plan/Passporter memberships. I don't know if you can use the Thomas Cook one online.

Maybe a Citibank US $ account would work for you then. You get a fee-free debit card that you can use abroad and no-fee ATM withdrawals. I haven't got one myself but I have seen them recommended here and on other forums.

 

[2Tiggies]

Maybe a Citibank US $ account would work for you then. You get a fee-free debit card that you can use abroad and no-fee ATM withdrawals. I haven't got one myself but I have seen them recommended here and on other forums.

Oh, thank you so much. I will check out the link now - or when DD allows me the peace

 

[Trixster]

Fingers crossed that the dollar rate improves for you.

 

[2Tiggies]

Fingers crossed that the dollar rate improves for you.

Thanks Trixter! I hope so too. Must admit though, last April when we left it was $1.38 on the High Street when we left. I did have to get some, but had bought 75% of our spending money when the £ started to slide the year before - at $1.98!!! So I didn't feel it that time. As a rule of thumb now, I budget at £1.50 and don't put myself on the cusp with budget so that if it drops it will cost more, but won't stop us from enjoying our trip - if that makes any sense. I do hope it improves though as any extra I spend comes out of next year's trip which I am already starting to look at and don't want to push it into the following year if i can help it. Still, it's looking a bit too close to the 1.50 mark for my liking. It is like playng the lottery!

 

[penlanspice]

I'm sure last year fairfx issued a statement stating that they were backed but .....(can't remember what) and your money was safe.

We've had a fairfx card for about 3 years now and have used it many times all over the US and to also pay our annual dues and pay for rooms on-line. We wouldn't do it any other way now.

 

[2Tiggies]

I'm sure last year fairfx issued a statement stating that they were backed but .....(can't remember what) and your money was safe.

We've had a fairfx card for about 3 years now and have used it many times all over the US and to also pay our annual dues and pay for rooms on-line. We wouldn't do it any other way now.

I take it you pay online in USD? As I said, this is kind of the main purpose of the card as I tend to do a lot of "non delivery" online shopping (and "window shopping" ) on US sites and the added bonus is I could use it not only for holidays but for this as well. There are so many cards out there but the FairFX keeps coming up as no.1.

 

[wickesy]

I take it you pay online in USD? As I said, this is kind of the main purpose of the card as I tend to do a lot of "non delivery" online shopping (and "window shopping" ) on US sites and the added bonus is I could use it not only for holidays but for this as well. There are so many cards out there but the FairFX keeps coming up as no.1.

All the funds on the card are in USD (converted at the rate on the day you top up) so anything you use it for will be paid in USD.

 

[2Tiggies]

All the funds on the card are in USD (converted at the rate on the day you top up) so anything you use it for will be paid in USD.

Thanks Wickesy. I assumed as much but just wanted to double check. I am going to go for it. In the extremely unlikely event that they went under, I can't lose more that what is on there! Going to check if the Dibb is still doing the free card offer.

Thank you all for your help.

 

[2Tiggies]

I posted this just in case it is of use to anyone else who prefers to operate on a low risk policy.

Not being one to gamble (even for fun ) I emailed FairFX to get confirmation on how my money is protected should they go under.

This was the response:

Apologies for the confusion, your Money will be held by New Castle
Building Society, who are regulated by the FSA. Therefore even if in the
unlikely even FairFX were to collapse your money will be safe and
returned to you.

BTW, they were certainly efficient. Sent 2 emails. Each was replied to within 15 minutes. Not a bad first impression.

 

[MacUK]

Just got my card today and as stated, protected by Newcastle Building Society printed on the T&C's with the card.

No worries then.

 

[sunraydb]

We have used our FairFx card last year and it is great, we take some travellers cheques and some cash.

I have also used the FairFX card whilst shopping and never had a problem.

 

[Trixster]

Here's another vote for using the fairfx card. The only issue that we had was trying to keep track of how much we had left on the card as we had no internet access - wish I'd taken a calculator rather than doing long subtraction every night.